Overdraft fee changes

We've removed some of our overdraft fees, effective from 1 February 2019. Download the new Personal banking fees and limits brochure (PDF 142.1 KB). The changes have been summarised below.

Fee type Old fee New fee
Application fee $15 $0
Overdraft monthly fee $5 per month $0
Over limit fee $10 per month $0

Changes to our other accounts and services

Foreign cheques

Foreign cheques over the value of NZ$500

We’re making changes to the way we handle foreign cheques, effective from 29 March 2019. If your foreign cheque is over the value of NZ$500, it can take up to four to six weeks (or longer in some cases) for us to process. We’ll only accept foreign cheques under the value of NZ$500 on a case by case basis at our discretion.

Foreign cheques over the value of NZ$5,000 or in Australian dollars, Great British pounds or United States dollars

We've made changes to the way we handle foreign cheques, effective from 31 October 2018.

If your foreign cheque is in Australian dollars, Great British pounds or United States dollars and under NZ$5,000 it will take up to 30 days for your funds to become available in your Kiwibank account.

If your foreign cheque is in any other currency regardless of its value or over the value of NZ$5,000 it can now take up to four to six weeks (or longer in some cases) for us to process your foreign cheque.

Download a copy of the new foreign currency draft/cheque terms and conditions (PDF 70.8 KB) effective from 31 October 2018.

Home loans

Home loan fees and terms and conditions

We've made changes to some of our home loan fees and our home loan terms and conditions. These changes are effective from 17 December 2018. Download an updated copy of our Personal Banking fees and limits brochure (PDF 142.1 KB) and our home loan terms and conditions (PDF 163.0 KB). The changes have been summarised below.

Changes to home loan terms and conditions

Effective 17 December 2018 we've updated our home loan terms and conditions to reflect the removal of the Low Equity fee. See Section 16, "What Fees and Costs Do You Pay?". Download the home loan terms and conditions (PDF 163.0 KB) effective 17 December 2018.

Home loan fees removed

Fee type Old fee New fee
Application fee $250 Removed
Demand fee – Insurer premiums $50 Removed
Discharge of security fee – urgent $50 Removed
Low Equity fee Varies depending on LVR Removed

Home loan fees reduced

Fee type Old fee New fee
Demand fee - Default $50 $12
Demand fee - Rates $50 $12
Discharge of security fee $75 $30 – full discharge* $70 – partial discharge*
Loan restructure fee $175 $30 – simple request* $135 – complex request*
Settlement Statement fee $45 $15
Top Up fee $200 $185

* Full descriptions of when each fee is applicable can be found in the updated Personal Banking fees and limits brochure (PDF 142.1 KB).

Credit cards

Credit card fees and terms and conditions

We’ve made changes to some of our credit card fees for our personal customers and our credit card terms and conditions. These changes are effective from 15 October 2018. Download an updated copy of our Personal Banking fees and limits brochure (PDF 142.1 KB) and our credit card terms and conditions (PDF 170.5 KB). The changes have been summarised below.

Changes to our credit card terms and conditions

The credit card terms and conditions changes clarify when you’ll need to reduce a positive balance on your account, refer to Clause 6 "Your credit limit and positive balances".

Credit card fees removed

Fee type Previous fee New fee
Over limit fee $5 $0
Statement copy fee $5 $0
Voucher copy fee $15 $0
Contact centre high use fee Variable $0
Emergency cash advance overseas $52 $0

Credit card fees changed

Fee type Previous fee New fee
Low Rate Mastercard account fee $25 every six months $24 every six months
Domestic cash advance fee $1 per transaction $0.90 per transaction
Late payment fee $3 per late payment $5 per late payment
Replacement card fee $10 per request $9.50 per request
Urgent card delivery fee to a New Zealand address $25 for metro deliveries; applicable courier charges elsewhere $2.60 per delivery

Previous public notices can be found on our archived public notices.